With a strong focus on the UK, Goodrich Corporation (GR) delivered technology to the Ministry of Defence to improve the geospatial intelligence sharing between UK and coalition forces.
Under ‘Project Attacker,’ Goodrich’s Intelligence Surveillance and Reconnaissance (ISR) Systems business, based in the UK, provides federated ISR data management systems to the deployed forces. These systems provide the UK’s armed forces with enhanced capability to share ISR data across the theatre of operations.
Goodrich is a global supplier of components and systems for communications and avionics. Most of its products are sold to both government and commercial customers. This draws government funding towards the development of its products that enjoy a dual-end market. Such a market generates higher volume sales, creating economies of scale that help to win cost-sensitive government contracts.
Going forward, the company expects its fortunes to turn dramatically with commercial airliners focusing on capacity expansion to meet the rising demand.
Goodrich has a geographically-diverse customer mix, diverse presence in both commercial and business jets, sees resurgence in commercial aftermarket sales, a strong balance sheet, incremental dividend and an ongoing share repurchase program; all just enough to make help Goodrich stand tall.
The company presently retains a short-term Zacks #2 Rank (Buy). We have a long-term Neutral recommendation on the stock. The company mainly competes with Honeywell International Inc. (HON) and United Technologies Corporation (UTX).
In February 2011, Goodrich announced its fourth quarter and fiscal 2010 results. Its fourth quarter operating earnings were $1.15 per share, ahead of the Zacks Consensus Estimate of $1.05. Goodrich reported fiscal 2010 operating earnings of $4.50 that comfortably beat the Zacks Consensus Estimate of $4.14. The company’s total operating revenue in the fourth quarter 2010 was $1,806.2 million compared with the Zacks Consensus Estimate of $1,847 million. In fiscal year 2010, total operating revenue was $6,966.9 million versus the Zacks Consensus Estimate of $7,089 million.
Headquartered in Charlotte, North Carolina, Goodrich Corporation supplies components, systems and services to the commercial, regional, business and general aviation markets in the U.S. and in other parts of the world. Goodrich also supplies aircraft and satellite systems to the global military and space markets.
GOODRICH CORP (GR): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
Zacks Investment Research
